When first installing MetaTrader 4, 90% of new users are overwhelmed by the default interface: a pitch-black background, a cluttered green grid, and hard-to-read price bars.
At WeMasterTrade, we always remind our capital-funded traders: “A cool head needs a clean chart.” A cluttered chart will easily distract you (Analysis Paralysis) and lead to wrong decisions.
This article will guide you on how to set up a professional MT4 chart and the secrets to customizing charts in MT4 to optimize your Price Action analysis.
1. Choose the right chart type (Chart Mode)
MT4 offers three types of price charts (located on the toolbar or via keyboard shortcuts):
- Bar Chart (Bar – Alt+1): Quite difficult to read for beginners.
- Line Chart (Line – Alt+3): Only connects closing prices, suitable for seeing the general trend but lacks detail.
- Candlesticks (Japanese Candlesticks – Alt+2): This is the “holy grail” of every professional trader.
Recommendation: Always keep it in Candlestick mode. Japanese candlesticks clearly show you the four important price levels (Open, Close, Highest, Lowest) and market sentiment (Which side is winning, buyers or sellers?).
2. Guide to “Cleaning Up” and Customizing Charts in MT4
Transform the default black screen into a bright, easy-to-read interface by following these steps:
Step 1: Open the Properties panel
Right-click in the middle of the chart → Select Properties (or press F8).
Step 2: Turn off distracting elements (Common Tab)
- Switch to the Common tab.
- Uncheck the Show Grid box (or press Ctrl + G outside): Turn off the grid for a cleaner chart.
- Check the box “Show period separators“: This displays vertical lines separating trading days/weeks (very important to know when the Asian/European/American session starts).
- Check the box “Show Ask line“: This displays the buy price line (helps you see how the spread expands).
Step 3: Redesign the colors (Colors Tab)
This is where you customize the MT4 chart to your personal style.
- Suggested color scheme: “Black on White” (White background – Black text): Easy on the eyes, similar to TradingView.
- Background: White.
- Foreground: Black (Black – the color of the numbers on the margin).
- Bar Up: Green or Black (Bullish candle border).
- Bar Down: Red or Black (Bearish candle border).
- Bull Candle: Green or White (Bullish candle body).
- Bear Candle: Red (Bearish candle body).
After making the adjustments, click OK. You will see a dramatic difference.
3. Essential Chart Navigation Tools You Must Know
To make the MT4 chart best serve your analysis, you need to master 3 functional buttons on the toolbar:
- Auto Scroll: Green arrow icon. When enabled, the chart will automatically jump to the current candle whenever a new price appears.
- Tip: Turn this button off when you want to scroll back to the past to [Backtest trading strategies].
- Chart Shift: Red arrow icon. Creates a space on the right side of the screen.
- Effect: Prevents candles from being pressed against the right edge, providing space to draw future projections or clearly see [Technical Indicators].
- Timeframes: From M1 (1 minute) to MN (1 month.
- WeMasterTrade Mindset: Always analyze multiple timeframes. Look for trends on H4/D1, find entry points on M15/H1.
4. Save Template – Do it once, use it forever
You cannot manually adjust the colors for every single currency pair every time you open a new chart. Use the Template feature:
- After adjusting colors and adding your desired indicators.
- Right-click on the chart → Template → Save Template.
- Name it (Example: “WMT_Clean”).
- Next time you open a new pair (e.g., EURUSD), just Right-click → Template → Select “WMT_Clean”. All setups will appear in 1 second.
5. Arrange Multiple Frames (Tile Windows)
Fund traders often need to observe many currency pairs at once.
- Open 4 charts of 4 different currency pairs.
- On the Menu bar, select Window → Tile Windows (or press Alt + R).
- MT4 will automatically divide the screen into 4 equal squares, helping you oversee the entire market.
Mastering the MT4 chart and knowing how to customize the chart in MT4 not only helps reduce eye strain but also demonstrates your seriousness toward the Trading profession. A professional workspace leads to wise entry decisions.
Related articles to read for a complete setup:
